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2022 Guide to investing in Stocks, Shares, CFD's, Cryptocurrencies, Commodities and more in Nigeria

Best Nigeria trading platforms
Top Nigeria Brokers 2022

This guide to the professional trading platforms in Nigeria has been updated for 2022 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.

This guide contains the latest information about finding the best trading patforms in Nigeria.

If you're a new entrant in the world of trading and broker, so many details will be confusing for you. Getting into the world of trading requires expert analyzing skills and thorough understanding. You will acquire adept skills at all the concepts of brokerage since you continue trading. For starters, you need to select the top agent in Nigeria who will be clear with you always.

Within this fast-paced universe of stock markets and trading, you'll need guidance to make proper decisions. A professionally lead investment plan is key to your success.

We currently have 20 Brokers in our database that we believe are the Best Online Brokers in Nigeria

Who Are The Professional Nigeria Trading Patforms?

This review has been written to help you find an experienced Nigeria broker. When searching for a good, reliable broker in Nigeria it can be quite confusing.  Below we show what your trading options are in Nigeria and what Nigeria online trading platforms can provide you.

Getting a free trial for a minimum of three days is the best way to understand the capabilities and reliability of any Nigeria online trading platform. Before making any ultimate decisions, you have to be able test the tradins platform's and software in real-time but with little risk. A demo account will allow you to test the software and see how easy it is. A high-quality broker in Nigeria should make it as simple as possible for you. They shouldn't have to do extensive research nor set up multiple accounts before they let you start trialling their tools.

We currently have 20 Trading Patforms in our database that we believe are the Top Brokers in Nigeria

forex4youC 7 TradershotforexCharter PrimeBettermentrietumu tradingEightcapWellsTradeExanteVinson FinancialsIntertraderhighlowCommonwealth SecuritiesquestradefxgiantsIC MarketsIGumarketstaylor collison limitedrfxt lebanon
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Rating3.25/52.47/56.25/55.92/52.68/57.10/53.55/51.73/55.70/55.86/56.28/54.70/54.61/54.50/56.30/58.34/54.98/54.20/55.85/53.30/5
Minimum Deposit$250$100$250$200$0$250$100$30$11700$200$1$250$5000$250$250$200$200$250$250$250
Year Founded20202014201220122008201120092008201120042009201119992019201120071974201820152010
HeadquartersUKVanuatuUnited StatesAustraliaUSACyprusAustraliaUnited StatesMaltaCyprusGibraltarAustraliaAustraliaNew ZealandCyprusAustraliaUKBulgariaCyprusAustralia
Regulated ByFinancial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F227UnregulatedFinancial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F255Financial Conduct Authority (FCA)UnregulatedFinancial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F302Australian Securities and Investment Commission (ASIC)UnregulatedMalta Financial Services Authority (MFSA), CySEC. Licence No.: 165/12, FCA, HKMACyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)Financial Conduct Authority (FCA)Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F254Cyprus Securities and Exchange Commission (CySEC)Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F298Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F242Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F333Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F318Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F301
Clients142,500+10,000+30,000+10,000+10,000+12,000,000+10,000+10,000+10,000+10,000+10,000+150,000+10,000+10,000+250,000+60,000+178,500+10,000+30,000+60,000+
Risk WarningYour capital is at riskYour capital is at riskYour capital is at riskYour capital is at riskYour capital is at riskYour capital is at riskMargin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.Your capital is at riskBetween 74-89% of retail investor accounts lose money when trading CFDs.Losses can exceed depositsLosses can exceed depositsYour capital is at riskYour capital is at riskYour capital is at riskYour capital is at riskLosses can exceed depositsSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.Your capital is at riskYour capital is at riskYour capital is at risk
Withdrawal FeesNoNoYesNoYesNoYesNoYesNoNoNoNoNoNoNoNoYesNoYes
Inactivity FeesYesNoYesNoNoNoYesNoNoNoNoNoNoNoNoNoNoYesNoNo
Deposit Fees2501002502000250100301170020012505000250250200200250250250
CFD FeesYesNoNoYesNoNoNoNoNoYesNoYesNoYesNoYesNoNoNoNo
Accepts Credit CardsYesYesYesYesYesYesYesYesNoYesYesYesYesYesYesYesYesYesYesYes
Accepts PayPalYesNoYesNoNoYesNoNoNoNoNoYesNoYesYesYesYesYesYesYes
Accepts SkrillYesNoYesNoNoYesNoNoNoNoNoYesNoYesYesYesNoYesYesYes
Accepts PayoneerYesYesYesYesYesYesYesYesNoYesYesYesYesYesYesNoYesYesYesYes
Accepts NetellerYesNoYesNoNoYesNoNoNoNoNoYesNoYesYesYesNoYesYesYes

Online Share Trading In Nigeria

Trading Assets in Nigeria is highly controlled and considered very secure. But, as always, that any investment may go down as well as up, which means that your capital is in danger.

If you are just starting out using online trading then it is advised to get a demo account first with a regulated agent so you are able to learn the systems without the danger of losing cash.

Live Forex Trading In Nigeria

Forex is the biggest liquid financial market in the world with a daily monetary market turnover of over $5 trillion (BIS statistics April 2016).

Forex (Abbreviation of Foreign Exchange) is a currency exchange involving two distinct countries and the next management of the resulting position in which one currency gains and the other loses.

It is simple to do Live Forex Trading in Nigeria with seasoned online brokers

Live CFD Trading In Nigeria

CFD trading is the selling and buying of contracts for difference via an online provider in Nigeria. When trading CFDs you are agreeing to exchange the difference in the price of an asset from the point at which the contract is opened to when it is closed.

Spread Betting In Nigeria

Spread Betting in Nigeria is possible using professional online brokers like XM or IC Markets. It is a simple bet as to whether the price will go up or down.  Usually, the Nigeria online trading platforms will show the prices you have.

If you are looking at how to do spread betting in Nigeria then it is a good idea to start with a demo account with either eToro or IC Markets so that you can practice with virtual money before risking your own capital.

Trading Forex in Nigeria

Globally, Nigeria is considered safe to do online trading and has access to other global financial centers. In Nigeria, online trading platforms are highly regulated, experienced and supportive. 

However, it is always important to be as informed as possible so below are some of the most important things any trader should know:

The financial industry in Nigeria are professional and are seen are very trustworthy due to regulation and compliance by the local Fiancial trade authority in Nigeria.

The online trading apps used by brokers in Nigeria are extensively tested and highly rated.

Whichever Online Trading Solutions in Nigeria you decide to use, ensure they have all of the below:

  • User friendly platform
  • Availability of a risk management tool
  • Good or instant execution speed
  • Better quality charts
  • Able to perform social trading
  • Professional online help or support

Challenges Of Trading Online in Nigeria

The US Dollar is considered the base currency globally so even a tiny change in the US financial markets could affect the economic markets in Nigeria. The EU is also a large market and changes there may affect the financial markets in Nigeria.

Like many countries there are challenges in Nigeria financial markets but overall the outlook is positive. However, like in all global financial markets we recommend that any Online Trading Brokers in Nigeria you decide to use, make sure you do your homework first before risking any real money. We have collected thousands of datapoints and written this guide to help you find the Best Trading Platforms in Nigeria.  We hope that by using this guide you will find a experienced broker that matches your needs.

Frequently Asked Questions About Trading Forex In Nigeria

Is Forex Trading Legal In Nigeria?

There's a growing misconception that trading Forex in Nigeria is considered unsafe. This is not the situation, Forex Currency trading in Nigeria is quite active, safe and regulated.

Trading in Forex is allowed in Nigeria as for any business to trade globally, foreign currency has to be exchanged. Whenever you purchase something and it is shipped from overseas, there will be numerous currency exchanges by multiple businesses to receive that thing to you.

The main thing is that when trading Forex in Nigeria you pick one of the best online brokers.

Do Forex Traders Pay Tax In Nigeria?

After a trader is successful and their gains reach a particular level then they may be taxed in Nigeria as per the standard taxation rules.

Tax returns must always be registered even if there's a reduction. You should seek out advice with a documented accountant in Nigeria to make certain you're abiding by all current regional laws since it's extremely dependent on your personal conditions.

Can You Trade Cryptocurrencies In Nigeria?

Cryptocurrency markets in Nigeria are quite new. As Cryptocurrencies work on decentralised resources in Nigeria matters like interest rate fluctuations and political instability don't affect them as much as the money markets.

Cryptocurrencies are more popular with the centuries and with increasing income amounts and technology adoption, trading cryptocurrency in Nigeria is increasing day by day. It's still modest in comparison to the Forex markets but about $6 billion USD of Bitcoin is traded every day.

Can You Trade Commodities In Nigeria?

Commodity trading in Nigeria involves trading in matters like precious metals, energies and agricultural commodities.

Some products such as agricultural are seeing exponential growth inNigeria.

Fast growing economies like India have a significant need for many fundamental raw materials for their inhabitants. It follows that countries like Nigeria can benefit from this situation.